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Western Ventures is a flagship initiative designed to support early-stage translation and commercialisation of Western Sydney University’s research. Commercialising research involves the process of taking an idea or a product developed through research and turning it into a marketable product or service that can generate revenue and/or provide significant positive community impact. This can include anything from developing a new drug or medical device, to creating a software application, developing a new manufacturing process or a new workflow management approach to connecting across creative industries.
The Western Ventures program is part of the University’s overall offering to assist researchers and staff with the commercialisation of their ideas for community impact, reputational enhancement, and commercial return. Other aspects include access to education regarding intellectual property (IP), industry engagement, commercialisation and entrepreneurship training; and stewardship through the commercial negotiation process towards technology licensing/company start-up and usage.
A Clear Path
Western Ventures offers a carefully curated, multifaceted and supported pathway from idea definition, proof of concept development through to path to market. Each path is bespoke to the applicant and their stage in the commercialisation journey, with every project and researcher provided a tailored program developed to meet their needs.
Researcher Development
Western Ventures includes a suite of Researcher Development programs, such as mentoring and advisory support structures, to guide through the commercialisation opportunity, options and process. These programs can be both through existing University channels, or via leading partner organisations.
Funding
An investment advisory panel is used to assess Western Ventures projects to award potential funding through a dedicated Early-Stage Innovation Fund. Projects that successfully complete one tier may reapply for higher tier funding support.
Success
The Western Ventures initiative will support identification, translation and commercialisation of high potential research and development across the University to foster mutually beneficial outcomes for the researcher, University and the communities in which we serve.
The University is here to support you on your commercialisation journey. We welcome and encourage all enquiries to help the commercialisation, protection of IP or potential to licence or spin out companies.
Apply Now (Staff Login Required)
We are keen to hear from our researchers who have ideas or Intellectual Property with potential commercial viability. For more information, please contact us by email or by filling in and sending the Application Form.
Western Ventures Guidelines for Applicants and Staff (Staff Login Required)
The program consists of a grant and support from Western Sydney University Commercialisation for the University staff and researchers with the aims of:
- Generating impact from research
- Enhancing relationships with business, community, and government
- Supporting economic growth locally and nationally
- Building the University’s research and innovation profile and capability
- Rewarding, retaining and recruiting staff and students
- Generating a commercial return for the University inventors and the University
The Western Ventures Program provides 3 tiers of potential investment support:
- Tier 1 - Investments up to $25,000 for considerations relating to Intellectual Property, development of prototypes and/or marketing collateral (i.e. audio, visual);
- Tier 2 - Investments up to $100,000 for Proof-of-Concept development. Funds are likely to be used for product development, data development, marketing and promotion. Where possible, the ability to leverage government commercialisation funds, AND co-investment opportunities with commercial/impact partners will be explored; and
- Tier 3 - Investments up to $250,000 targeted at new venture and spin-out entity establishment and development. Where possible, the ability to leverage government commercialisation funds, AND co-investment opportunities with commercial/impact partners and investors will be explored.
Projects that successfully complete one tier may reapply for higher tier funding support.
There is no requirement to commence at Tier 1.
It may be identified in the program that there are opportunities to explore further training and knowledge to support and develop your project. The most successful applicants have explored programs such as:
- The University LaunchPad Accelerator program
- Campus Plus webinar program
- Cruxes Innovation
- CSIRO ON program: https://www.csiro.au/ON-Prime and https://www.csiro.au/ON-Accelerate
- IP Australia
You will be supported in your application, with the commercialisation team able to assist you with what may be an appropriate program for you to explore.
The Western Ventures Advisory Panel plays a critical role in supporting translation and commercialisation of the University opportunities. The panel draws on their collective expertise to provide recommendations and advice on commercial/impact-focussed proposals submitted by the University staff, both academic and professional, and HDR candidates. The panel provide their recommendations to the Deputy Vice Chancellor (Research, Enterprise and International).
Membership of the WVAP is approved by the Deputy Vice Chancellor (Research, Enterprise and International) upon recommendation by the Executive Director, Enterprise.
Core membership consists of a maximum of six skilled parties in addition to the Chair, specifically:
- Independent chair; and
- 2-5 representatives drawn from the private sector (with a mix of skill sets covering legal, financial, early-stage ventures, product/service development), and including regional and alumni representation.
- Executive Director, Enterprise
In addition, the Chair may elect to invite specialist expertise from within the University professoriate or external to the University on a case-by- case basis.
Eligible applicants are the University staff and HDR researchers who have an idea/research that has potential for positive impact from a community and/or commercial return perspective.
Teams that include a minimum of one the University staff member, or an eligible direct affiliation with the University, may be eligible subject to appropriate IP considerations and ownership provisions being in place.
If in doubt, please contact us to discuss your/your team’s eligibility.
Applicants can download and fill in the EOI form. The University commercialisation team would like to engage regarding your prospective opportunity as early as possible in the process and are available for consultation before you have completed the form.
All EOI applications will be reviewed and applicants contacted for a discussion by the University Commercialisation Manager/team.
After discussion and potentially further information provided, applicants may proceed to a full application for either Tier 1 or Tier 2 / 3.
Tier 1 applications will be reviewed by the University internal panel from the Research, Enterprise & International Division.
Tier 2 and 3 applications will be reviewed by the Western Ventures Advisory Panel (WVAP). The WVAP will draw on their collective expertise to provide recommendations and advice to the Deputy Vice-Chancellor (Research, Enterprise and International) on commercial/impact-focussed proposals presented.
All applications will receive feedback on their application, and successful applications will be recommended to the Office of Deputy Vice-Chancellor (Research, Enterprise & International) for funding approval.
Assessment will be merit-based, focussed on criteria including:
- Potential of opportunity identified
- Quality, commitment and experience of the team/researcher
- Need for funding
- Clear milestones showing value added by completion
- Feasibility of plan
- Duration of grant
Western Venture investment funds will usually be awarded for use within a period of 12 months and subject to satisfactory progress of the idea/opportunity. In exceptional circumstances and where the project plan justifies it, an extension may be provided.
The recipient must report to the University Enterprise Team on the supported activities and overall idea/opportunity progress at agreed milestones as determined by the project plan.
Western Ventures is a flagship initiative of the Innovation Futures Program, part of the Transformation Program.
Western Sydney University has a bold vision to support our region to become a key innovation destination. The Innovation Futures initiative will bolster Western’s distinctive brand as innovative, future focussed and globally oriented institution renowned for the infusion of entrepreneurship and innovation throughout the University’s teaching and research programs, and commitment to our region.
